Home » US business news • US Employment News » Cisco reportedly starts layoffs affecting 4,000 staff
https://www.whatjobs.com/news/usa/us-business-news/cisco-reportedly-starts-layoffs-affecting-4000-staff
Cisco has started slashing its workforce as part of the broader layoffs it announced last month.
Employees posted on TheLayoff.com and Blind to reveal they had now been notified about the redundancies starting.
Some asked for tips to find new jobs and others wanted details on the severance pay the firm was providing.
READ MORE: SOFTWARE GIANT ADOBE ANNOUNCES 100 JOB CUTS
One company staff posted on the anonymous message board Blind: "Impacted by Cisco layoffs!"
"Looking for immediate (software engineering) referrals. Any help would be sincerely appreciated. Thanks."
Company spokeswoman Robyn Blum did not confirm that employees were notified of the job losses on Monday.
In response to a query about the employee posts, she said that the firm announced last month about a five percent layoff from this month.
READ MORE: BUZZFEED CONFIRMS 180 STAFF WILL BE LAID OFF AS THE ECONOMY DETERIORATES
Ms. Blum said: "We didn't take this decision lightly, and we will offer those impacted extensive support, including generous severance packages.”
However, she did not reveal the number of people the networking giant intends to axe in its hometown or in nearby locations.
The reductions come as part of its fiscal first-quarter report.
Cisco expects to save $600 million in charges related to its wider restructuring, including plans to downsize some of its real estate.
Need Career Advice? Get employment skills advice at all levels of your career
Ms. Blum noted that the digital communications giant hopes to maintain the same number of workers at the end of its fiscal year as when it began.
Cisco joins other tech businesses in trimming staff due to soaring interest rates, a falling stock market, and possible recession.
The company is Silicon Valley's fourth-largest technology employer.
The region is home to 11,752 of its 83,300 workforces.
Source: The Business Journals
Follow us on YouTube, Twitter, LinkedIn, and Facebook
